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Hacked DeFi platform Drift gets funds to repay customers and relaunch with Tether

Finextra • April 17, 2026

Drift, the DeFi platform that lost around $270 million in clients assets to a North Korean hack earlier this month, has secured $147.5 million in funding from Tether and partners to recover user funds and relaunch with the Tether stablecoin at its centre.

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This article is one source in a clustered incident — the cluster page carries the summary, timeline and every other outlet covering it.

Drift Protocol Suffers Major $270M Exploit Amid Ongoing Investigation On April 1, 2026, Drift Protocol, a decentralized exchange on the Solana blockchain, confirmed it was under an active attack, resulting in an estimated loss of $270 million to $285 million. The exploit involved suspicious transfers to a wallet identified as HkGz4K, with the protocol suspending all deposits and withdrawals immediately. Initial reports indicated that the attack may have exploited compromised administrative access or manipulated token prices. Analysts noted that the incident could be one of the largest DeFi hacks of the year, with the DRIFT token plummeting approximately 35% in value. The protocol's total value locked (TVL) significantly decreased from around $311 million to approximately $23 million following the incident. As investigations continue, there are concerns about the security of decentralized exchanges and potential regulatory repercussions. No confirmed recovery of funds has been reported as of April 2, 2026. 108 sources 67

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